Affluent Upstate NY... (Pittsford: sales, how much, buying)
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As mentioned previously, these are all examples of people leaving these homes, and possibly the state or region. Most of the owners of high end houses can afford to sit on these houses, even after they've moved. A much more accurate example that this thread is addressing could be had by listing recent sale prices. After all, everyone knows that a property is only worth what someone is willing to pay. Not the asking price.
As mentioned previously, these are all examples of people leaving these homes, and possibly the state or region. Most of the owners of high end houses can afford to sit on these houses, even after they've moved. A much more accurate example that this thread is addressing could be had by listing recent sale prices. After all, everyone knows that a property is only worth what someone is willing to pay. Not the asking price.
Again, the point would still remain in terms of affluent residents being in those communities, as those properties wouldn’t exist if they weren’t there. So, while those properties are For Sale for whatever reason, there are likely other nearby properties that are occupied. I could see if those are the only such properties in these communities, but for most, if not all of them, that isn’t the case.
Again, the point would still remain in terms of affluent residents being in those communities, as those properties wouldn’t exist if they weren’t there. So, while those properties are For Sale for whatever reason, there are likely other nearby properties that are occupied. I could see if those are the only such properties in these communities, but for most, if not all of them, that isn’t the case.
True to a certain point. However, if the million dollar house doesn't sell, that region is now minus an affluent family. Again, sale price is the ONLY value reference worth mentioning. Asking price really means nothing. If you don't believe me, try getting a mortgage based on the average asking price of a neighborhood.
True to a certain point. However, if the million dollar house doesn't sell, that region is now minus an affluent family. Again, sale price is the ONLY value reference worth mentioning. Asking price really means nothing. If you don't believe me, try getting a mortgage based on the average asking price of a neighborhood.
Sure, but don’t overthink this. The point is simple in that there is enough demand and likely other properties in the area where such a price is warranted. That is what this thread is referring to, as many not familiar with said communities may have no clue that such neighborhoods or properties exist.
Sure, but don’t overthink this. The point is simple in that there is enough demand and likely other properties in the area where such a price is warranted. That is what this thread is referring to, as many not familiar with said communities may have no clue that such neighborhoods or properties exist.
I am not over thinking this YOU are in trying to prove you are right. My comments are so obvious and basic economics.
The property being for sale only means there WAS demand when it was purchased, or built. Just because ONE such property exists doesn't at all mean that there are many others in the direct neighborhood. Infact, if you will notice, in even the most affluent towns, there will be million dollar homes, but the vast majority may only be $2-300,000. So that is why, as YOU say, many don't even know these exist.
So, to summarize AGAIN, a house, widget, whatever is only worth what someone is willing to invest their own money into.
Sometimes, depending on sellers situation, they may make concessions of a couple hundred thousand dollars, maybe even half the price.
Another point is that with business and networking, the owners have many contacts, and the house gets sold without ever hitting the market. So when you see a multi=-million dollar house for sale, the chances are excellent that it has already been shopped around to the known qualified prospective purchasers, and only now makes it to the general market.
If there really was demand, you would also find new build million dollar houses, as when you can afford to pay that much, you get exactlly what you want. That also contributes to why so many million+ houses don't sell, or take a long time to sell, as there may be a glut of high end properties.
I am not over thinking this YOU are in trying to prove you are right. My comments are so obvious and basic economics.
The property being for sale only means there WAS demand when it was purchased, or built. Just because ONE such property exists doesn't at all mean that there are many others in the direct neighborhood. Infact, if you will notice, in even the most affluent towns, there will be million dollar homes, but the vast majority may only be $2-300,000. So that is why, as YOU say, many don't even know these exist.
So, to summarize AGAIN, a house, widget, whatever is only worth what someone is willing to invest their own money into.
Sometimes, depending on sellers situation, they may make concessions of a couple hundred thousand dollars, maybe even half the price.
Another point is that with business and networking, the owners have many contacts, and the house gets sold without ever hitting the market. So when you see a multi=-million dollar house for sale, the chances are excellent that it has already been shopped around to the known qualified prospective purchasers, and only now makes it to the general market.
If there really was demand, you would also find new build million dollar houses, as when you can afford to pay that much, you get exactlly what you want. That also contributes to why so many million+ houses don't sell, or take a long time to sell, as there may be a glut of high end properties.
Yes, you are overthinking this, as the criteria has been set in the OP.
Also, if you look at the age of many of the properties, many of them are relatively new or newer properties. I actually posted an example earlier in the thread. So, there is demand in many of these areas, which is the point of the thread. Even your point about business and networking actually proves the point that many of these communities likely have or have other properties at or above $1 million dollars that are occupied or sold privately.
As mentioned previously, these are all examples of people leaving these homes, and possibly the state or region. Most of the owners of high end houses can afford to sit on these houses, even after they've moved. A much more accurate example that this thread is addressing could be had by listing recent sale prices. After all, everyone knows that a property is only worth what someone is willing to pay. Not the asking price.
Plenty of the links in this thread do show SOLD and pending / contingent homes.
Plenty of the links in this thread do show SOLD and pending / contingent homes.
Thank you! I just went through all of the listings posted and it looks like 22 have been sold/contingent/pending/off the market out of the roughly 60 properties posted. So, it looks like there is some demand for such properties in Upstate NY.
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